Compounding Pharmacy Market Size, Share, Growth Analysis, By Product(Medications, Topical medications, Suppositories, Mouthwashes), By Therapeutic Area(Hormone replacement therapies, Pain medications, Dermatological applications), By Region - Industry Forecast 2024-2031

Compounding Pharmacy Market Driver

• Increased oral medication use is major opportunities for market expansion.

The oral market is anticipated to increase at a CAGR of over 6% through 2028, driven by the rising popularity of oral pharmaceuticals including tablets and capsules. Additionally, the majority of disorders can only be effectively treated by taking pharmaceuticals orally, which increases the demand for oral medications.

• Compound pharmaceuticals are increasingly in demand due to the aging population, age-related chronic diseases, and rising health care costs. In order to avoid allergies that may otherwise be brought on by commercially accessible medicine formulations, patients are looking for compounded pharmacies to obtain pharmaceuticals with alternate dosages, customized routes of administration, and alternative ingredients. These elements have helped the market for compounding pharmacies in grow.

Compounding Pharmacy Market Restraint

• The sales potential of compounded pharmaceuticals from complex drug pharmacies is expected to be adversely affected by the rise in the number of prohibited drugs. In this regard, the U.S. FDA announced that, begin in June 2015, it will add four medications to its list of those that are "not allowed to be compounded" in large quantities by outside institutions. These include acetaminophen, aprotinin (Trasylol), ondansetron hydrochloride (Zofran), and bromocriptine mesylate (Tylenol). The demand for common compounded medications like Tylenol might decrease if an order forbidding the compounding of these medicines is issued.
• Lack of trained lab workers and pharmacists in developing markets, high maintenance costs for sterile environments, and potential barriers will to some extent hinder market expansion.